Sasken to acquire Borqs’ ODM, software services biz

Product engineering firm Sasken Technologies has announced the acquisition of Hong Kong-headquartered Borqs Technologies' original design manufacturing (ODM) and software services business. Borqs is a global provider of embedded software and products for the Internet of Things (IoT). The deal is valued at $40 million, inclusive of earn-outs, management incentives, and other payouts; the transaction is expected to be completed by end of 2024.

With this acquisition, Sasken will be adding designing and development capabilities, including ideation, IP development, software and product realization, and hardware supply chain management. Working with chipset partners, Sasken will create a range of connected devices, including mobile phones, tablets, smartwatches, and various IoT products, and assist clients in taking them from concept to market. 

Founded in 2007, Borqs Technologies provides end-to-end wireless product solutions for mobile telecommunications and IoT across various industries, including utilities, healthcare, and smart cities. It has over 300 employees and is present across continents. After the alliance with Sasken, Borqs will be focusing on developing next-generation AI and blockchain software and services, while continuing to collaborate with the Bengaluru-based company to leverage its Silicon design capabilities, said Pat Chan, CEO of Borqs.

“This acquisition reflects our commitment to expanding our technological footprint and delivering advanced solutions to meet the evolving demands of our customers. By integrating Borqs’ capabilities, we will strengthen our portfolio, improve our competitiveness, and drive future growth in high-demand markets like IoT and 5G,” said Rajiv C. Mody, CMD & CEO, Sasken Technologies. This strategic acquisition is aligned with Sasken’s 60x4x3 strategy to drive growth, innovation, and competitiveness in the market.

In March, after a green light from the Board, Sasken acquired a 60% stake in Anups Silicon Services Private Limited (ASSPL). The acquisition was made through a private placement basis, with Sasken investing ₹ 33.2 crore in ASSPL. 

For the quarter ending September, Sasken reported consolidated revenue of ₹135.03 crores at a 9.5% quarterly growth. Mody said in an interview with Hindu Businessline that the company will be increasing its focus on silicon design.